How open the US economy should be is a very hot topic right now. Let's start with the extreme case - what might happen in the economy if we closed the borders to trade? How does the federal budget deficit interact with an open economy/trade deficit?

Once a few people give us good answers to those first questions let's try to get more specific. Choose a good that is either made entirely in a foreign nation and imported or one that is made partially in a foreign nation and imported. Where is your good made (may be in multiple countries)? Could it be produced in the US? Why or why not? If we banned importation of this good who would benefit? Who would lose? How would you estimate the costs and benefits of the ban? Does this ban affect multiple goods or just one? How does that complicate the cost/benefit analysis?

If you are bored.... how has the US trade deficit changed over the past three years as as tariffs have been imposed? Why?

And even more interesting -- why do we trade goods, but restrict labor movement? (Those restrictions are only about 100 years old in the US. For the case for Open Borders try here: https://openborders.info/(Links to an external site.))